News and Events for Attorneys and Executives

Insurance

Is Your Insurance Provision Meeting Its Full Potential?

Insight
Careful review should go into contracts’ insurance provisions, as it could have enormous effect on your protection from risk and liability, advises Morgan, Lewis & Bockius LLP.

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Wells Fargo Faces $1 Billion Fine to Settle Loan Abuses

Wells Fargo Faces $1 Billion Fine to Settle Loan Abuses

News
Reuters reports that Wells Fargo & Co. has been offered a penalty of $1 billion by regulators to resolve outstanding investigations related to auto insurance and mortgage lending abuses, the third-largest U.S. bank by assets said on Friday.

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Berkshire’s National Indemnity Ordered to Pay $43 Million for Asbestos Settlement

News
National Indemnity  provided general liability insurance to the state at the time of the alleged exposure, but it had argued those insurance policies didn’t cover the asbestos-related claims, according to MarketWatch.

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Harvey Weinstein’s Insurer Refuses to Pay for Legal Defense

Harvey Weinstein’s Insurer Refuses to Pay for Legal Defense

News
Chubb Indemnity Insurance Co. sued Weinstein on Wednesday, asking the New York Supreme Court for a declaration that it is not obliged to fund the disgraced producer’s legal defense, according to Variety.

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Long-Running Construction Defect Fight in Texas Ends With Defense Win

News
A decade-long construction defect battle involving a South Padre Island, Texas, luxury condominium complex damaged during Hurricane Dolly has been resolved in a take-nothing defense win secured by attorneys of the West Mermis law firm for the general contractor.

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Defense Scores Arbitration Win in Long-Running Construction Defect Fight in Texas

News
A decade-long construction defect battle involving a South Padre Island, Texas, luxury condominium complex damaged during Hurricane Dolly has been resolved in a take-nothing defense win.

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Freeborn Adds Four Attorneys to Tampa, Chicago and Richmond Offices

News
Freeborn & Peters LLP has added attorneys Melissa B. Murphy, Steven D. Pearson, Michael J. Braggs and Sarah E. Chibani to its Insurance and Reinsurance Industry Team.

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Company Blames Gibson Dunn in Aetna HIV Settlement Notice Fiasco

Company Blames Gibson Dunn in Aetna HIV Settlement Notice Fiasco

News
Gibson Dunn isn’t named as a defendant in the new suit, but the firm’s alleged involvement in the notification fiasco is mentioned throughout the complaint, says Reuters.

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Does the Insurance Policy Incorporate the Service Contract by Reference? An Examination of In Re Deepwater Horizon

Does the Insurance Policy Incorporate the Service Contract by Reference? An Examination of <i>In Re Deepwater Horizon</i>

Insight
A Steptoe & Johnson article takes a look at the way additional insured coverage under an insurance policy is analyzed when there is an underlying drilling contract limiting the additional insured coverage to the scope of the liability assumed in the service contract.

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The Eighth Circuit Raises the Bar for Would-Be Indemnitees

Insight
A federal appellate court has issued an order dealing with indemnification for prior settlements, and it could have a hugely beneficial impact on potential indemnitors, including sellers of mortgage loans as well as insurers, reports Bilzin Sumberg.

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The Importance of Attention to Risk Allocation Provisions in Contracts

Insight
A recent Indiana Court of Appeals decision illustrates the importance of having an overall risk allocation strategy in contracts where appropriate, and paying close attention to the language used to express that strategy, writes Christian Jones of Barnes & Thornburg.

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Are Smart Contracts Smart Enough for the Insurance Industry?

Insight
In an article in the Pillsbury Policyholder Pulse blog, Kimberly Buffington and Cara Adams discuss the question: Will insurance policies become the laboratory to test the thesis behind smart contracts?

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Keys to Negotiating Indemnity Agreements

Insight
It’s imperative that your company’s risk management and legal departments strategically manage indemnification and insurance obligations to minimize the always increasing cost-of-business demands, writes Buldas of Pietragallo Gordon Alfano Bosick & Raspanti L.L.P. in Pittsburgh.

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Insurance Giant Receives New York Subpoena on Sales Practices

News
New York’s attorney general has subpoenaed TIAA, the giant insurance company and investment firm, seeking documents and information relating to its sales practices, according to people briefed on the inquiry, reports The New York Times.

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IADC Explores Privacy and Data Protection Issues in Defense Counsel Journal

Insight
The International Association of Defense Counsel (IADC) has dedicated the October 2017 edition of its Defense Counsel Journal (DCJ) to the exploration of privacy issues.

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Silicon Valley Software Startup, Ex-CEO Fined Nearly $1M

Silicon Valley Software Startup, Ex-CEO Fined Nearly $1M

News
Zenefits will pay a $430,000 penalty and the co-founder/former chief executive has been fined more than $533,000, Reuters reports.

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Disney Takes Insurer AIG to Court Over ‘Pink Slime’ Defamation Settlement

News
The Walt Disney Company is going to battle with its insurer, AIG, as it seeks coverage for a massive settlement in the “pink slime” defamation case, Variety is reporting.

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Blank Rome Adds Insurance Recovery Team in Los Angeles

News
Blank Rome LLP has added Linda Kornfeld, David Thomas and Julia Holt to the firm’s Los Angeles office in the Insurance Recovery group. Linda Kornfeld joined as partner and vice chair of the group, David Thomas joined as partner and Julia Holt joined as of counsel.

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Three Ways to Indemnify Your Business (Or Your Client’s Business) From Smart Contract Risks

Insight
The Steptoe Blockchain Blog, suggest three tools to address smart contract risks, including cybersecurity insurance policies, indemnification agreements, and “make whole” agreements.

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Dallas Lawyer Named Chair of State Bar of Texas’ Insurance Law Section

News
Meloney Perry, founder of the Dallas-based insurance defense law firm Perry Law P.C., has been elected the 2017-18 chair of the Insurance Law Section of the State Bar of Texas.

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